The bitcoin price bubble is far from over

The media is abuzz about Bitcoin (BTC) and the Bitcoin price, and with good reason. Bitcoin exchange rate history This cryptocurrency is revisiting a major milestone in the price, which was set in November 2013, and the developments—or lack thereof—with regards to the Winklelvoss’s Bitcoin exchange traded fund (ETF) that was once again delayed by the U.S. Bitcoin exchange hong kong Securities and Exchange Commission (SEC).

Let me make it clear: I am not a fan of Bitcoin itself, but I do like and understand the merits of blockchain technology. Bitcoin exchange bot That being said, I do not like Bitcoin because I believe this pseudo-currency is replicating the Dutch tulip bubble that finally popped in 1637.


Bitcoin website People are flocking to Bitcoin as a means of speculation. Bitcoin value increase The Winklevoss twins understand this notion, and their intention of creating an ETF that tracks Bitcoin only solidifies my theory.

A currency needs to be sound, and liquid. Bitcoin rate today The Bitcoin price experiences way too much volatility, and the spread between the bid and ask are way too wide to fit this bill. Bitcoin price The Bitcoin price has little to do with the demand for the currency as a means of exchange, and instead the demand is coming from those who are speculating on the price of this cryptocurrency. Bitcoin value 2015 In essence, bitcoins are used to speculate on the price of Bitcoin. Bitcoin spot price This just lacks in logic, but then the tulip bubble and all the other bubbles that followed were no different.

Does this mean that I am bearish on Bitcoin and believe the price will drop? On the contrary, as a technical analyst who has been using price as the anchor of my investment analysis, I respect price and know that a trend can continue to drive prices higher than even the most bullish participants thought possible.

When the November 2013 highs at $1165.00 are finally and successfully breached, I believe that the Bitcoin price will surge to multiple thousands of dollars. Bitcoin exchange to usd That being said, I also do not believe that the previous high will be broken on the first attempt.

Let me also point out that the previous all-time high in the Bitcoin price was made when one bitcoin was equal in value to one ounce of gold. Bitcoin rate chart Gold is currently sitting at $1165.00 per ounce, and I do not see the Bitcoin price surpassing the price of gold on a sustained basis.

The scenario I see playing out is that the price of Bitcoin will hover below $1165.00 for some time, until it is finally stages a breakout at a later date. Bitcoin exchange japan It took a lot of buying pressure to get the Bitcoin price back to this level, and it will take even more buying pressure to finally break above it.

How high can the Bitcoin price travel? This question is dependent on a successful break above the previous all-time high. Start a bitcoin exchange If I were to speculate, and put a number on a potential price objective, I could easily see the Bitcoin price surge north of $4000.00.

What could drive the Bitcoin price this high? The Winklevoss twins are attempting to create an ETF that could be easily accessed by people using their investment and retirement accounts. Whatis bitcoin This ETF will track the Bitcoin price and it will allow investors to speculate on the Bitcoin price. Bitcoin price 2009 A surge in demand for this ETF will be like adding fuel to an already overheated market. Bitcoin payment Perfect ingredients to set off a mania. Bitcoin price crash Last Words on Bitcoin

The craze surrounding the Bitcoin price will end somewhere and some day, but it won’t end today. Bitcoin price change I fear that much higher Bitcoin prices will need to be attained before this bubble has finally reached its peak. Bitcoin exchange calculator Like the previous bubbles that popped before it, Bitcoin too will pop, prices will plummet, and many speculators will be left in tears.

Editor’s Note: Hi, Patrick Brik here. Bitcoin price going up If you enjoyed this article, you can get more of my opinions and commentaries in our popular daily tech letter, Profit Confidential. Bitcoin exchange australia Published daily, it’s FREE! Join us when you click here now.

The media is abuzz about Bitcoin (BTC) and the Bitcoin price, and with good reason. Bitcoin price history data This cryptocurrency is revisiting a major milestone in the price, which was set in November 2013, and the developments—or lack thereof—with regards to the Winklelvoss’s Bitcoin exchange traded fund (ETF) that was once again delayed by the U.S. Usd to bitcoin chart Securities and Exchange Commission (SEC).

Let me make it clear: I am not a fan of Bitcoin itself, but I do like and understand the merits of blockchain technology. Bitcoin newsletter That being said, I do not like Bitcoin because I believe this pseudo-currency is replicating the Dutch tulip bubble that finally popped in 1637. What is bitcoin exchange People are flocking to Bitcoin as a means of speculation. Bitcoin graph usd The Winklevoss twins understand this notion, and their intention of creating an ETF that tracks Bitcoin only solidifies my theory.

A currency needs to be sound, and liquid. Digital bitcoin The Bitcoin price experiences way too much volatility, and the spread between the bid and ask are way too wide to fit this bill. 1 bitcoin to cad The Bitcoin price has little to do with the demand for the currency as a means of exchange, and instead the demand is coming from those who are speculating on the price of this cryptocurrency. Best bitcoin exchange 2015 In essence, bitcoins are used to speculate on the price of Bitcoin. Bitcoin payments This just lacks in logic, but then the tulip bubble and all the other bubbles that followed were no different.

Does this mean that I am bearish on Bitcoin and believe the price will drop? On the contrary, as a technical analyst who has been using price as the anchor of my investment analysis, I respect price and know that a trend can continue to drive prices higher than even the most bullish participants thought possible.

When the November 2013 highs at $1165.00 are finally and successfully breached, I believe that the Bitcoin price will surge to multiple thousands of dollars. Bitcoin creation That being said, I also do not believe that the previous high will be broken on the first attempt.

Let me also point out that the previous all-time high in the Bitcoin price was made when one bitcoin was equal in value to one ounce of gold. Bitcoin stock graph Gold is currently sitting at $1165.00 per ounce, and I do not see the Bitcoin price surpassing the price of gold on a sustained basis.

The scenario I see playing out is that the price of Bitcoin will hover below $1165.00 for some time, until it is finally stages a breakout at a later date. Bitcoin realtime chart It took a lot of buying pressure to get the Bitcoin price back to this level, and it will take even more buying pressure to finally break above it.

How high can the Bitcoin price travel? This question is dependent on a successful break above the previous all-time high. Bitcoin value canadian If I were to speculate, and put a number on a potential price objective, I could easily see the Bitcoin price surge north of $4000.00.

What could drive the Bitcoin price this high? The Winklevoss twins are attempting to create an ETF that could be easily accessed by people using their investment and retirement accounts. Bitcoin price watch This ETF will track the Bitcoin price and it will allow investors to speculate on the Bitcoin price. What is a bitcoin worth in us dollars A surge in demand for this ETF will be like adding fuel to an already overheated market. Bitcoin sign in Perfect ingredients to set off a mania. Bitcoin value drop Last Words on Bitcoin

The craze surrounding the Bitcoin price will end somewhere and some day, but it won’t end today. Bitcoin value euro I fear that much higher Bitcoin prices will need to be attained before this bubble has finally reached its peak. Bitcoin price surge Like the previous bubbles that popped before it, Bitcoin too will pop, prices will plummet, and many speculators will be left in tears.

Editor’s Note: Hi, Patrick Brik here. Realtime bitcoin chart If you enjoyed this article, you can get more of my opinions and commentaries in our popular daily tech letter, Profit Confidential. Bitcoin flow chart Published daily, it’s FREE! Join us when you click here now.